House Building Advance to State Government Employees

House Building Advance to State Government Employees

Combined Seniority and Eligibility list of applicants for availing House Building Advance in the State of Kerala.

Finance Department of Kerala Government issued orders pertaining to the House Building Advance to State Government employees on 6th August, 2012. The State Government have reintroduced the HBA Scheme to State Government Employees and Teachers, hence the Department is published the combined state wise seniority and eligibility list has been prepared and hosted in official website. The complete HBA state wise seniority list of applicants was attached as annexure-I and Combined state wise eligibility list as per budget provision as annexure-II with the office memorandum.

House Building Advance – Enhancement of ceiling of House Building Advance from Rs.15 to Rs.25 lakhs in Tamil Nadu

Tamil Nadu Government - House Building Advance 2012House Building Advance – Enhancement of ceiling of House Building Advance from Rs.15 to Rs.25 lakhs in Tamil Nadu

Tamil Nadu Government has decided to increase the ceiling of House Building Advance to its employees from 15 lakhs to 25 lakhs, due to escalation in the cost of land and building materials.

An important abstract order issued from Finance Department of Tamil Nadu on 20.6.2012 regarding enhancement of ceiling of Housing Loan to State Government employees and officers. The Government Order says,  ‘the ceiling on House Building Advance to the Government Servants was lastly revised in the year 2009. At this distance of time, considering the escalation in the cost of land and building materiel, the Hon’ble Minister for Finance, in the Budget Speech for the year 2012-2013, has announced enhancement of the present House Building Advance ceiling from Rs.15 lakhs to  Rs.25 lakhs to Government Employees. Further, the Government have also considered enhancement of House Building Advance ceiling from Rs.25 lakhs to Rs.40 lakhs to All India Service Officers. The Government after careful examination have decided to enhance the existing maximum ceiling of House Building Advance as above’.

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Revised rates of interest on House Building Advance

Rupee

Revised rates of interest on House Building Advances

The new and revised rates of interest on loans and advances…

The Finance Department of West Bengal has directed through an office letter on 30th March 2012 pertaining that the rates of interest on loans and advances to government servants.

The new rates of interest to fix on loans taken by the government staff during the year 2011-12.

The below table is indicated the rate of interest for the amount of House Building Advance during the year 2011-2012…

Advances Rate of Interest per annum
House Building Advance

(i) Up to Rs.50,000/-

5%

(ii) Up to Rs.1,50,000/-

6.5%

(iii) Up to Rs.5,00,000/-

8.5%

(iv) Up to Rs.7,50,000/-

9.5%

Motor Car

2. Advance for purchase of Motor Car

11.5%

Motor Cycle, Scooter and Moped

3. Advance for purchase of conveyance other than Motor Car (Viz. Motor Cycle, Scooter and Moped)

8%

Personal Computer

4. Advance to officers of All India Services/State Services for purchase of Personal Computer

11.5%

5. Advance for purchase of Other Conveyance (Other than item 2 & 3)

5.5%

6. Other Advances (i.e. advances in connection with marriage, illness, etc., and advances for other purposes) including passage advance

5.5%

Interest Rates for House Building Advacne to Central Government Employees

 

Interest Rates for House Building Advance to Central Government Employees

Concessional interest to employees for promoting Small Family Norm :-

The rate of interest will be half per cent less for an employee who undergoes sterilization.

The advances carry simple interest from the date of payment of the first instalment and is calculated on the balance outstanding on the last day of each month. No interest is chargeable beyond the date of retirement/death of the government servant.

 

Amount of Loan sanctioned

From 16.12.1997 to 31.3.2001

From 1.4.2001 to 31.3.2002 /td>

From 1.4.2002 to 31.3.2003

From 1.4.2003

Up to Rs.50,000

7.5%

6.5%

6.0%

5.0%

Rs.50,001 to Rs.1,00,000

9.0%

8.0%

7.5%

6.5%

Rs.1,00,001 to Rs.1,50,000

9.0%

8.0%

7.5%

6.5%

Rs.1,50,001 to Rs.2,00,000

11.0%

10.0%

9.5%

8.5%

Rs.2,00,001 to Rs.2,25,000

11.0%

10.0%

9.5%

8.5%

Rs.2,25,001 to Rs.5,00,000

11.0%

10.0%

9.5%

8.5%

Rs.5,00,001 to Rs.7,50,000

12.0%

11.0%

10.5%

9.5%